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SAN FRANCISCO (AP) - Online DVD rental service Netflix Inc. has settled a patent infringement lawsuit against Blockbuster Inc., ending an attempt to thwart the rapid growth of its biggest rival.
Terms of the settlement were kept confidential. In Securities and Exchange Commission documents filed Wednesday, Blockbuster said the settlement won't affect its future performance.
Investors interpreted the resolution as good news for Netflix, whose shares climbed $1.26, or 6.5 percent, to $20.78 Wednesday. Blockbuster shares dipped 2 cents to $4.20.
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